European cold rolled coil (CRC) and hot dip galvanized (HDG) prices have remained relatively stable over the past week, with most northern European and Italian mills now targeting around €750/mt ex-works for January delivery CRC and HDG. At the same time, while offers for import CRC have shown a slight decline with occasional ex-Asia transactions reported at a lower level, offers and deal prices for imported HDG have increased slightly in the region since last week.
Specifically, in the domestic CRC market, while most mills in Italy and northern Europe have continued to target €730/mt ex-works and €730-750/mt ex-works, respectively, for January delivery coils, compared to €670-680/mt ex-works two weeks ago. The tradable prices are still estimated at €690-700/mt ex-works levels in both regions.
In the import segment, offers for CRC have settled at €600-630/mt CFR, depending on the supplier, down by €10/mt week on week. According to sources, despite the AD investigation, a deal for ex-Japan CRC has been signed at €600/mt CFR southern Europe this week, without CBAM costs, versus a deal price at €605-610/mt CFR last week.
Besides, according to sources, offers for ex-Asia CRC including CBAM costs have been voiced in Europe at €650-660/mt CFR, but no deal has been reported so far.
In the HDG segment, domestic tradable prices both in Italy and in the north of Europe have remained at €700-720/mt ex-works, though mills have been aiming to increase their offers for January delivery HDG to €750/mt ex-works and higher.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €680-750/mt CFR, depending on the supplier. According to sources, a deal for ex-Japan Z100 HDG has been signed at €750/mt CFR this week. Besides, offers for ex-Vietnam Z140 HDG have been voiced at €680/mt CFR, while offers from Pakistan have been also heard, at €750/mt CFR through traders this week.
